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Jon Najarian Sees Unusual Options Activity In MGM Resorts And Vistra Energy

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On CNBC's "Fast Money Halftime Report," Jon Najarian spoke about unusually high options activity in MGM Resorts International (NYSE: MGM) and Vistra Energy Corp (NYSE: VST).

Options traders were buying the November 1 expiration, $28 strike calls in MGM Resorts. Around 5,000 contracts were traded in the first half of the session and they paid 70 cents for them. The trade breaks even at $28.70 or 5.32% above the current stock price. Najarian bought these calls and he is planning to hold them for two weeks.

See Also: Finding Its Stride? Option Trader Makes Big Bet Slack Rally Has Legs

Vistra Energy was also active. About 5,000 contracts of the November $28 calls were traded for 55 cents. The trade breaks even at $28.55 or 5.74% above the current stock price. Najarian followed the trade and he is going to hold the position for a month.

Posted-In: CNBC Fast Money Halftime Report Jon NajarianOptions Markets Media

 

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